Australia is such a stable and peaceful society, especially the public service-dominated Canberra, that Australians have become complacent about their declining wealth, Treasury head John Fraser says.
The problems facing the nation are similar to the early 1980s, when Australia was falling out of the ranks of the world's richest countries, but the community didn't recognise the need for policy changes, he said.
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Geoff Kitney was a senior national affairs writer and columnist based in Canberra. Connect with Geoff on Twitter.
